SUNNYVALE, Calif.--(BUSINESS WIRE)--Sep. 13, 2016--
Celebrating its 20th anniversary, Financial Engines
(NASDAQ:FNGN), America’s largest independent registered investment
advisor1, today announced that it is adding local Financial
Engines advisors across the country and unbiased, comprehensive
financial help to its services delivered through the workplace. The
company also unveiled a new brand identity representing its new broader
mission on a redesigned www.financialengines.com,
and at the more than 120 former The Mutual Fund Store locations
nationwide, newly rebranded as Financial Engines Advisor Centers.
Financial Engines completed its acquisition of The Mutual Fund Store
earlier this year.

The newly expanded services are consistent with Financial Engines’
commitment to act as a fiduciary on behalf of its clients, which it has
done since its founding over 20 years ago. That longstanding commitment
mirrors the spirit of the Department of Labor’s recent Conflict of
Interest Rule, which provided a framework for employees to get
non-conflicted, fiduciary-level advice beyond the 401(k). With the new
services, Financial Engines is now uniquely positioned to help clients
with their entire financial picture, including their 401(k), IRA and
taxable assets, and comprehensive financial planning and wellness — all
with the help of dedicated advisors throughout its network of local
advisor centers.

Historically, only affluent investors had access to this level of
personalized service. With this move, Financial Engines is bringing
unbiased financial advisors to its workplace clients to make it easy for
millions of hardworking Americans to get the help they need — with the
added assurance of working with a fiduciary that puts its clients’ best
interests first.

“Just as we transformed the industry by pioneering scalable,
institutional-quality investment advice and professional management, our
new advisor center network, financial planning services and brand
identity show our commitment to bringing greater clarity to Americans’
complex financial lives,” said Financial Engines president and CEO Larry
Raffone. “The first 20 years of Financial Engines’ history have been
about helping people plan for and live well in retirement. For the next
20 years, we’re going to be helping more people better manage their
financial lives today, up to and through retirement — regardless of
their income or account balance. I’m excited to introduce even more
people to the personal, proactive, comprehensive and non-conflicted care
that our clients have come to expect from Financial Engines.”

Meeting a Need for More Day-to-Day Financial Help

According to Aon Hewitt, 54 percent of employees would like access to a
financial advisor via the workplace.2 Employers appear to be
listening, as Aon Hewitt’s 2016 Hot Topics in Retirement and Financial
Well-Being report points out that 89 percent of employers are likely to
add or expand the financial well-being tools and services offered to
employees this year. Seventy-four percent of employers were either
moderately likely or very likely to add financial planning services to
their financial wellness programs in 2016.

“Financial Engines is unique in the industry in that our services were
developed specifically for the workplace. Due to our existing ability to
manage 401(k) accounts, we have no need to solicit 401(k) rollovers,”
explained Raffone. “More than anything, this move is about expanding the
number of people Financial Engines can help achieve their financial
goals. Our clients have had access to our help online and through our
call-center based advisors. By broadening our focus and making
fiduciary-level care across all account types available to investors
through employers and to those near a Financial Engines Advisor Center,
we’re giving all people the power to grow.”

About Financial Engines

Financial Engines is America’s largest independent investment advisor.
We help people achieve greater financial clarity by providing
comprehensive financial planning and professional investment management
and advice. Headquartered in Sunnyvale, CA, Financial Engines was
co-founded in 1996 by Nobel Prize-winning economist William F. Sharpe.
We currently offer financial help to more than nine million people
across over 690 companies (including 144 of the Fortune 500). Our unique
approach, combined with powerful online services, dedicated advisors and
personal attention, promotes greater financial wellness and helps more
Americans to meet their financial goals.

All advisory services provided by our investment advisory subsidiaries,
including Financial Engines Advisors L.L.C., Financial Engines Advisor
Center, LLC, and a system of registered investment advisors known as The
Mutual Fund Store. Financial Engines does not guarantee future results.

Forward-Looking Statements

This press release contains forward-looking statements, including
statements regarding the use of professional investment and financial
planning help, which involve risks and uncertainties that could cause
actual results to differ materially. These risks and uncertainties are
outlined in our SEC filings. You are cautioned not to unduly rely on
these forward-looking statements, which speak only as of the date of
this press release. Unless required by law, Financial Engines undertakes
no obligation to publicly revise any forward-looking statement to
reflect circumstances or events after the date of this press release or
to report the occurrence of unanticipated events.